Torquay leasehold conveyancing Example Support Desk Enquiries
Jane (my partner) and I may need to sub-let our Torquay 1st floor flat temporarily due to taking a sabbatical. We used a Torquay conveyancing practice in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Torquay conveyancing lawyer is not available you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or some other party before subletting. The net result is that you cannot sublet without first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I own a leasehold house in Torquay. Conveyancing and Barclays Direct mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Torquay who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Torquay conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a long established estate agency in Torquay where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Torquay conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you provide any advice for leasehold conveyancing in Torquay with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Torquay can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- The majority freeholders or Management Companies in Torquay levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Torquay.
What makes a Torquay lease defective?
Leasehold conveyancing in Torquay is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
Torquay Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
The best form of lease arrangement is a share of the freehold. In this arrangement the lessees have control and even though a managing agent is often retained if it is larger than a house conversion, the managing agent retained by the leaseholders.
How much is the ground rent and service charge?
Make sure you find out if there are any onerous restrictions in the lease. For example it is fairly common in Torquay leases that pets are not allowed in in a block in Torquay. If you love the apartmentin Torquay yet your dog can’t move with you then you have a very hard determination.